Voters 249. Successful - I am a self-supporting trader 32 --> 12.85% Successful - I am gaining some income 53 --> 21.29% Breaking even - but wonder if it is all worth it 44 --> 17.67% Poorly - but improving and might make it 76 --> 30.52% Poorly - I suck at it and might soon give up 44 --> 17.67%
Originally Posted by tiktok Although I'm an intraday trader (when I see opportunity), I'm a big fan of doing my homework on the daily time frames . . . cut out the noise and the picture becomes a lot clearer. Consequently and more importantly, it gives me a point of reference to trade from. I don't like being the wrong side of a trade EVER and although I accept it happens sometimes, it is almost entirely because I have been impatient. Patience is "THE KEY" and the market casino will happily prey upon impatience. I see the FOREX poll at the top of the page has approximately 68% of participants failing or breaking even with just 32% allegedly gaining income or better . . . almost Standard Deviation and the histogram looking more like one of my volume bell curves every day. To the point . . . here is my current homework on the EUR/USD . . . simple stuff in all honesty, when 5 sma is above the 35 sma and the trend line has been broken, I look for opportunities to be a buyer. When the 5 sma (blue line) is below the 35 sma (red line) and the trend line broken, I look for opportunities to be a seller. GREEN ellipse signals buying opportunities, RED ellipse signals selling opportunities. Sure, I appreciate pull backs and times when all looks ambiguous, but I'm aiming to put the odds in my favour and if that means staying away from any pair for several days until ambiguity is resolved, then so be it . . . with so many pairs to choose from + Gold and oil etc, there is always something to trade if impatience is getting the better of you. Once the big picture is painted and the ellipse has given the all go, then I'll break it down to 15 min and 5 min and refine my analysis for intraday trading using my personal methods . . . . as everyone is different, I post less on the forum these days simply because my methods are less mainstream than most on here. There you have it . . . the EUR/USD is plainly on a downtrend and I've been taking selling opportunities since the last RED ellipse . . . late to the party for some perhaps and even though there will pull backs, until the 5 sma crosses back above the 35 sma and the THEN most appropriate trend line is broken (not necessarily the current pink one), I shall remain a seller given the opportunity. That's me for another few weeks no doubt . . . good luck to one and all especially those who are new to the forum and perhaps FOREX trading too . . . TT --- In [email protected], "Teddy S." <teddyr@...> wrote: > > View Poll Results: > > Voters 112. > > Successful - I am a self-supporting trader 13 --> 11.61% > Successful - I am gaining some income 25 --> 22.32% > Breaking even - but wonder if it is all worth it 21 --> 18.75% > Poorly - but improving and might make it 41 --> 36.61% > Poorly - I suck at it and might soon give up 12 --> 10.71% > ------------------------------------ Post message: [email protected] Subscribe : [email protected] Unsubscribe : [email protected] List owner : [email protected] Homepage : http://proletar.8m.com/Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/proletar/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/proletar/join (Yahoo! ID required) <*> To change settings via email: [email protected] [email protected] <*> To unsubscribe from this group, send an email to: [email protected] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
